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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Zip code 14530, encompassing Perry, New York, exhibits a diverse affordable housing landscape supported by the Low-Income Housing Tax Credit (LIHTC) program. This area contains 99 LIHTC-funded affordable housing units, all designated as low-income units. Based on an estimated 2,248 housing units in the zip code, LIHTC-funded affordable housing comprises approximately 4.4% of the local housing inventory.
The LIHTC program has made significant investments in zip code 14530, with project tax credits totaling $1,196,463. This equates to an average federal funding of $12,086 per unit. Zip code 14530 accounts for 0.06% of the total LIHTC funding allocated to New York State, representing a modest but meaningful contribution to the state's affordable housing efforts.
Affordable housing in this zip code spans nearly two decades. The first LIHTC project, Silver Lake Meadows, was completed in 2003, while the most recent, Perry Knitting Mill Apartments, was finished in 2019. The 2010s saw the most recent development activity in affordable housing for this area.
The LIHTC-funded projects in zip code 14530 offer a mix of one-bedroom and two-bedroom units. There are 57 one-bedroom units and 42 two-bedroom units, catering to various household sizes and needs. Perry Knitting Mill Apartments, a notable project, targets individuals with Serious Mental Illness (SMI), addressing the unique needs of a vulnerable population.
Over the past decade, zip code 14530 has experienced demographic shifts. The population decreased from 4,669 in 2019 to 4,621 in 2020, then increased significantly to 5,867 in 2022. This population growth may indicate increased demand for housing, including affordable options. Median income in the area has fluctuated, rising from $59,153 in 2019 to $63,019 in 2020, then decreasing to $59,227 in 2022. These income level changes could influence the need for affordable housing in the community.
The racial composition of zip code 14530 has evolved. The percentage of white residents decreased from 89% in 2019 to 86% in 2022, while the proportion of residents identifying as two or more races increased from 3% to 7% during the same period. This growing diversity may correspond with changing housing needs and preferences in the community.
Zip code 14530 demonstrates a modest but focused approach to affordable housing through the LIHTC program. With 99 low-income units across two projects spanning nearly two decades, the area has maintained a consistent commitment to affordable housing. The recent completion of Perry Knitting Mill Apartments in 2019, specifically targeting individuals with serious mental illness, showcases an effort to address specialized housing needs. While LIHTC-funded units represent a small portion of the estimated housing inventory, they play a crucial role in providing affordable options in this community. The recent population growth and fluctuating income levels suggest an ongoing need for diverse housing options to serve the changing demographics of the area.